Section 12-201 - Definitions.
§ 12-201. Definitions.
(a) In general.- In this subtitle the following words have the meanings indicated.
Revisor's Note.
This subsection is new language derived without substantive change from former Art. 41, § 14-202(a).
In this subsection, the former phrase "unless the context clearly indicates another or different meaning or intent" is deleted as implicit in the normal rules of statutory construction.
(b) Adjusted assessable base.- "Adjusted assessable base" means the fair market value of real property that qualifies for a farm or agricultural use under § 8-209 of the Tax - Property Article, without regard to the agricultural use assessment for the property as of January 1 of the year preceding the effective date of the resolution creating the development district under § 12-203 of this subtitle.
Revisor's Note.
This subsection formerly was Art. 41, § 14-202(c).
The only changes are in style.
Defined Terms.
"Development district" § 12-201
(c) Assessable base.- "Assessable base" means the total assessable base, as determined by the Supervisor of Assessments, of all real property subject to taxation in a development district.
Revisor's Note.
This subsection is new language derived without substantive change from former Art. 41, § 14-202(d).
Defined Terms.
"Development district" § 12-201
(d) Assessment ratio.-
(1) "Assessment ratio" means a real property tax assessment ratio, however designated or calculated, that is used under applicable general law to determine the assessable base.
(2) "Assessment ratio" includes the assessment percentage specified under § 8-103(c) of the Tax - Property Article.
Revisor's Note.
This subsection is new language derived without substantive change from former Art. 41, § 14-202(e).
Defined Terms.
"Assessable base" § 12-201
(e) Bond.- "Bond" means a revenue bond, note, or other similar instrument issued in accordance with this subtitle by:
(1) a political subdivision; or
(2) the revenue authority of Prince George's County.
Revisor's Note.
This subsection is new language derived without substantive change from former Art. 41, § 14-202(f).
Defined Terms.
"Political subdivision" § 12-201
(f) Chief executive.- "Chief executive" means the president, chair, mayor, or other chief executive officer of a political subdivision or the revenue authority of Prince George's County.
Revisor's Note.
This subsection is new language derived without substantive change from former Art. 41, § 14-202(g).
In this subsection and throughout this subtitle, the references to "municipal corporation" are substituted for the former references to a "municipality" for consistency with the Md. Constitution, Art. XI-E.
In this subsection, the references to the "chair" is substituted for the former reference to the "chairman" because SG § 2-1238 requires the use of terms that are neutral as to gender to the extent practicable.
Defined Terms.
"Political subdivision" § 12-201
(g) Development.- "Development" includes new development, redevelopment, revitalization, and renovation.
Revisor's Note.
This subsection formerly was Art. 41, § 14-202(i).
No changes are made.
(h) Development district.- "Development district" means a contiguous area designated by a resolution.
Revisor's Note.
This subsection formerly was Art. 41, § 14-202(j).
No changes are made.
(i) Issuer.- "Issuer" means a political subdivision or the revenue authority of Prince George's County that issues a bond under this subtitle.
Revisor's Note.
This subsection is new language added for clarity.
Defined Terms.
"Bond" § 12-201
"Political subdivision" § 12-201
(j) MEDCO obligation.- "MEDCO obligation" means a bond, note, or other similar instrument that the Maryland Economic Development Corporation issues under authority other than this subtitle to finance the cost of infrastructure improvements located in or supporting a transit-oriented development or a State hospital redevelopment.
(k) Original assessable base.- "Original assessable base" means the assessable base as of January 1 of the year preceding the effective date of the resolution creating the development district under § 12-203 of this subtitle.
Revisor's Note.
This subsection formerly was Art. 41, § 14-202(k).
The only changes are in style.
Defined Terms.
"Assessable base" § 12-201
"Development district" § 12-201
(l) Original full cash value.- "Original full cash value" means the dollar amount that is determined by dividing the original assessable base by the assessment ratio used to determine the original assessable base.
Revisor's Note.
This subsection formerly was Art. 41, § 14-202(l).
The only changes are in style.
Defined Terms.
"Assessable base" § 12-201
"Assessment ratio" § 12-201
"Original assessable base" § 12-201
(m) Original taxable value.- "Original taxable value" means for any tax year the dollar amount that is:
(1) the adjusted assessable base, if an adjusted assessable base applies; or
(2) in all other cases, the lesser of:
(i) the product of multiplying the original full cash value by the assessment ratio applicable to that tax year; and
(ii) the original assessable base.
Revisor's Note.
This subsection is new language derived without substantive change from former Art. 41, § 14-202(m).
The legislative history of this subsection makes clear that the "adjusted assessable base" must be used if it applies; otherwise, the "original taxable value" is the lesser of the "original assessable base" and the product of the "original full cash value" and the applicable "assessment ratio". Bill File, SB 298, 1992, floor report of Senate Budget and Taxation Committee, March 19, 1992.
Defined Terms.
"Adjusted assessable base" § 12-201
"Assessable base" § 12-201
"Assessment ratio" § 12-201
"Original assessable base" § 12-201
"Original full cash value" § 12-201
"Tax year" § 12-201
(n) Political subdivision.- "Political subdivision" means a county or a municipal corporation.
Revisor's Note.
This subsection is new language added to avoid repetition of the phrase "county or municipal corporation".
Defined Terms.
"County" § 9-101
(o) State hospital redevelopment.- "State hospital redevelopment" means any combination of private or public commercial, residential, or recreational uses, improvements, and facilities that:
(1) is part of a comprehensive coordinated development plan or strategy involving:
(i) property that was occupied formerly by a State facility, as defined in § 10-101 of the Health - General Article, or a State residential center, as defined in § 7-101 of the Health - General Article; or
(ii) property that is adjacent or reasonably proximate to property that was occupied formerly by a State facility, as defined in § 10-101 of the Health - General Article, or a State residential center, as defined in § 7-101 of the Health - General Article;
(2) in accordance with design development principles, maximizes use of the property by those constituencies it is intended to serve; and
(3) is designated as a State hospital redevelopment by:
(i) the Smart Growth Subcabinet established under § 9-1406 of the State Government Article; and
(ii) the local government or multicounty agency with land use and planning responsibility for the relevant area.
(p) Tax increment.- "Tax increment" means for any tax year the amount by which the assessable base as of January 1 of the preceding tax year exceeds the original taxable value divided by the assessment ratio used to determine the original taxable value.
Revisor's Note.
This subsection formerly was Art. 41, § 14-202(n).
The only changes are in style.
Defined Terms.
"Assessable base" § 12-201
"Assessment ratio" § 12-201
"Original taxable value" § 12-201
"Tax year" § 12-201
(q) Tax year.- "Tax year" means the period from July 1 of a calendar year through June 30 of the next calendar year.
Revisor's Note.
This subsection formerly was Art. 41, § 14-202(o).
No changes are made.
(r) Transit oriented development.- "Transit-oriented development" has the meaning stated in § 7-101 of the Transportation Article.
[An. Code 1957, art. 41, § 14-202(a), (c)-(g), (i)-(o); 2008, ch. 306, § 2; ch. 470; 2009, ch. 182, §§ 1, 2; ch. 191; 2010, ch. 726, §§ 1, 2.]